crop insurance News

Sompo Int’l Forms Agricultural Insurance Partnership with Portuguese MGA ATLAS

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that its global agriculture platform, AgriSompo, has entered into a partnership with Portuguese managing general agent ATLAS Segurmina, to offer innovative crop insurance solutions …

Damage to Iowa Ag Industry from Virus Will Be Huge, Economists Say

A group of agriculture economists said on April 15 the coronavirus pandemic will cause billions of dollars in damage to Iowa’s crop and livestock industries. In a report released from Iowa State University’s Center for Agricultural and Rural Development, the …

16 Additional North Dakota Counties Named Agriculture Disaster Areas

U.S. Agriculture Secretary Sonny Perdue has designated 16 North Dakota counties as natural disaster areas due to extreme weather last year ranging from drought to excessive moisture. The announcement, combined with a disaster designation issued in November, means that all …

USDA Adds New Hurricane Insurance Endorsement for 2020 Crop Year

The U.S. Department of Agriculture’s (USDA) Risk Management Agency (RMA) has implemented a new crop insurance endorsement, Hurricane Insurance Protection – Wind Index (HIP-WI), the agency announced. HIP-WI covers a portion of the deductible of the underlying crop insurance policy …

Cannabis Power Brokers Tackle Five Pressing Insurance Questions

The cannabis business is a frontier industry that continues to offer no shortage of unique challenges to regulators, as well as boundless questions for industry watchers and ancillary businesses like insurance. Key questions may include: What insurance coverage is most …

Wine ‘Smoke Taint’ Disputes Linger 2 Years After California Wildfires

Recent wildfires in California Wine Country, particularly those that devastated parts of Napa and Sonoma counties in October 2017, have focused attention on whether insurance covers smoke taint damage to grapes and wine. Many wineries and grape growers have notified …

Wyoming’s Governor is Seeking Disaster Help for Beet Farmers

Wyoming Gov. Mark Gordon is asking for a federal disaster declaration to help farmers affected by cold weather in October. Two cold spells with warm weather in between harmed sugar beet crops in northern and southeastern Wyoming. The first cold …

Extreme Weather in Greece Brought $1.1 Billion in Crop Damages Since 2011

In the hills of northern Greece, peach farmer Makis Antoniadis is sweating in unseasonably warm November weather as he toils with his most recent harvest. It might be one of his last. Already grappling with the effects of climate change, …

AIR Worldwide Launches Multi-Peril Crop Insurance Model for India

Catastrophe risk modeling firm AIR Worldwide (AIR) announced it has released a Multiple Peril Crop Insurance (MPCI) Model for India to help support probabilistic assessments of potential losses caused by yield shortfalls for 11 major crops across the two main …

Sheriff Says Midwest Crop Thefts Are a ‘Major League Operation’

A “well-organized machine” of thieves appears to be behind the theft of tons of apples and pumpkins from orchards and farms in Michigan and Indiana, according to authorities. An estimated 7,000 pounds (3,175 kilograms) of apples were discovered missing Oct. …